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Real Estate Forum on Real Estate (regulation And Development) Bill

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Latest Answer: get full consultation on rera license registration for builders and agents. Inquire at 8586806283 or visit our website GSBtaxation
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Q: According to rera, if all flats are sold on purely carpet area basis, how will balcony or pocket terrace be sold to owner? How will that be calculated legally?
Latest Answer: As stated in the circular, the terrace, veranda, external wall and the balcony will not come under the carpet area even it is exclusively dedicated to the flat owner whereas the internal partition wall will be included in the carpet area. This move by the Maharashtra RERA will bring consistency in the real estate sector and will bar developers from selling flats on the basis of the built up area.
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Q: The Bill will go to the Lok Sabha and then for presidential approval before becoming law.
Latest Answer: Not only this, the term carpet area has been clearly defined to eliminate any scope for wrongdoing. So far, most developers measured and sold homes based on so-called super area, which is conventionally at least 30% more than the carpet area that a buyer can use.
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Q: Union Minister Mukhtar Abbas Naqvi said they they are taking strong and honest steps to ensure low-cost housing and social security for every citizen.
Latest Answer: It is true Sangyukta. But opposition party is not interested and trying to obstruct the approval. They don't know that the Bill will provide a uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector.
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Q: Facing acute opposition in the Rajya Sabha and strong disturbance, the government has decided against moving the amended Real Estate (Development and Regulation) Bill in the current session and will try to get it through parliament next year.
Latest Answer: As per the recent news, the Real Estate (Regulation and Development) Bill had been referred to a select committee, which had given its report in July. But Congress, Left and AIADMK had expressed reservations on the report through disagree notes. Given the opposition, the government had formed an informal group of ministers to work out on a politically acceptable bill.
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Q: The Cabinet's approval to the revised Real Estate (Regulation and Development) Bill, 2015 led to a rally in real estate stocks.
Latest Answer: Right Gaurav, Transparency is the biggest benefit of this Bill. Approvals, passing of plans, carpet area, built-up area all these information will be available to consumer. Nothing would be hidden, that is the principle aspect of the Bill.
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Q: Hi everybody!
I want to know the impact of Real Estate Bill on both Builders and Developers
Latest Answer: What real estate analysts' view on Real Estate (Regulation and Development) bill?
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